Manage Uncertainty in Project Schedules Like Never Before with Monte Carlo Simulation
Answer questions like “Will this project finish on time?” or “Will we be within budget?” using ScheduleRiskAnalysis (or SRA for short), a new module within the DecisionTools Suite Industrial designed specifically for project managers dealing with uncertainty in project schedules. SRA is a complete toolset that works within the familiar @RISK for Excel environment, letting you perform risk modeling on project files created in Primavera P6 or Microsoft Project. Simply read those files into SRA, and instantly apply all the power and flexibility of @RISK Monte Carlo simulation in Excel.
Scheduling applications like Project or P6 lack the ability to account for uncertain variables, such as unknown task dates, durations, or resource usages. SRA fills this gap by bringing the most powerful risk analysis technology on the market to your schedules, while preserving 100% of the integrity and logic of your original model. What’s more, simulations run orders of magnitude faster, and on larger models, than in previous versions of @RISK. Best of all, you can now combine your cost risk models with your schedule models all in one place – integrated project risk management in your spreadsheet!
Probabilistic Gantt charts in SRA visually show the likelihood of different durations and finish dates for tasks and the entire project.
Meet Deadlines, Plan Contingencies, and More
SRA shows you virtually all possible outcomes in your schedule – and tells you how likely each is to occur. SRA helps you judge which risks to take, and which ones to avoid. SRA also ranks your risks, enabling you to identify the variables which impact your schedule the most. With SRA, you can:
- Avoid otherwise unseen schedule delays or extra costs
- Identify new opportunities to save time or accomplish tasks more efficiently
- Understand critical factors affecting your schedule, so you can make contingency plans
- Create contingency budgets based on probabilistic data
- Communicate risks effectively to others, from team members to management
- Combine your schedule models with existing Excel-based cost models
SRA shows the probability of different finish dates, costs, or other outcomes in your project model.
Projects are Riskier Than Ever
With global inflation and interest rates on the rise, continuing uncertainty in supply chains, exchange rate volatility, and geopolitical instability, large projects face more risk than they have in years. One well-informed decision that considers all the outcomes will more than pay for itself. Don’t wait for your project to get off track.
Upgrade or Purchase Today to Improve Your Project Schedules
SRA is available as part of the DecisionTools Suite Industrial. Existing @RISK or DecisionTools Suite users can upgrade mid-subscription to the DecisionTools Suite Industrial. Contact us today to scope a solution that meets your project management needs.
- Americas: 800-432-RISK or +1 607-277-8000
- EMEA: +44 (0)1895 425 050
- APAC: +61 2 9252 5922
